LETRA: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
LETRA
Largest movements
- Cash +€45,401
up €45,401 (+84.4%), from €53,818 to €99,219
mainly Net result for the year (+€85,679) and Investment in fixed assets (net) (+€29,228)
- Tangible fixed assets -€29,660
down €29,660 (-95.2%), from €31,168 to €1,508
of which Furniture and vehicles: -€31,168
- Receivables after one year +€11,500
new in 2025: €11,500
- Receivables within one year +€1,501
up €1,501 (+109.4%), from €1,372 to €2,874
- Other debts +€17,395
up €17,395 (+31.4%), from €55,432 to €72,827
- Tax, wage and social debts +€11,867
up €11,867 (+100.6%), from €11,799 to €23,666
- Trade debts -€1,337
down €1,337 (-95.9%), from €1,395 to €58
- Other operating charges -€17,587
down €17,587 (-95.1%), from €18,500 to €913
- Gross operating margin +€13,031
up €13,031 (+12.5%), from €104,446 to €117,477
- Taxes +€7,877
up €7,877 (+35.1%), from €22,474 to €30,352
- Depreciation -€7,553
down €7,553 (-94.6%), from €7,985 to €432
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €87,176 | €115,101 | +€27,925 | +32.0% |
| Fixed assets | 21/28 | €31,168 | €1,508 | -€29,660 | -95.2% |
| Tangible fixed assets | 22/27 | €31,168 | €1,508 | -€29,660 | -95.2% |
| Plant, machinery and equipment | 23 | - | €1,508 | +€1,508 | |
| Furniture and vehicles | 24 | €31,168 | €0 | -€31,168 | -100.0% |
| Current assets | 29/58 | €56,008 | €113,593 | +€57,585 | +102.8% |
| Amounts receivable after more than one year | 29 | - | €11,500 | +€11,500 | |
| Other amounts receivable | 291 | - | €11,500 | +€11,500 | |
| Amounts receivable within one year | 40/41 | €1,372 | €2,874 | +€1,501 | +109.4% |
| Other amounts receivable | 41 | €1,372 | €2,874 | +€1,501 | +109.4% |
| Cash at bank and in hand | 54/58 | €53,818 | €99,219 | +€45,401 | +84.4% |
| Deferred charges and accrued income | 490/1 | €818 | - | -€818 | |
| Total equity and liabilities | 10/49 | €87,176 | €115,101 | +€27,925 | +32.0% |
| Equity | 10/15 | €18,550 | €18,550 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €68,626 | €96,551 | +€27,925 | +40.7% |
| Amounts payable after more than one year | 17 | - | €0 | = | |
| Other amounts payable | 178/9 | - | €0 | = | |
| Amounts payable within one year | 42/48 | €68,626 | €96,551 | +€27,925 | +40.7% |
| Trade debts | 44 | €1,395 | €58 | -€1,337 | -95.9% |
| Suppliers | 440/4 | €1,395 | €58 | -€1,337 | -95.9% |
| Taxes, remuneration and social security | 45 | €11,799 | €23,666 | +€11,867 | +100.6% |
| Taxes | 450/3 | €11,799 | €23,666 | +€11,867 | +100.6% |
| Other amounts payable | 47/48 | €55,432 | €72,827 | +€17,395 | +31.4% |
| Non-recurring operating income | 76A | - | €119 | +€119 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,985 | €432 | -€7,553 | -94.6% |
| Other operating charges | 640/8 | €18,500 | €913 | -€17,587 | -95.1% |
| Gross operating margin | 9900 | €104,446 | €117,477 | +€13,031 | +12.5% |
| Operating profit (loss) | 9901 | €77,961 | €116,132 | +€38,171 | +49.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €77 | €102 | +€24 | +31.7% |
| Recurring financial charges | 65 | €77 | €102 | +€24 | +31.7% |
| Profit (loss) for the period before taxes | 9903 | €77,884 | €116,031 | +€38,147 | +49.0% |
| Income taxes | 67/77 | €22,474 | €30,352 | +€7,877 | +35.1% |
| Profit (loss) for the period | 9904 | €55,409 | €85,679 | +€30,270 | +54.6% |
| Profit (loss) for the period to be appropriated | 9905 | €55,409 | €85,679 | +€30,270 | +54.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.